PerspecSys Inc, one of the foremost cloud data protection solution providers, has announced it has raised US$12 million in funding. Leading the new investments were the Paladin Capital Group and Ascent Venture Partners.
This new round increases the investment equity to over US$250 million. WIth the current market demand, the company would be utilizing the funds for the different markets and service areas of the technology.
According to Philip Elliot of the Paladin Capital Group, "The marketplace is shifting. Enterprises are learning that you cannot secure your data unless you fully control your data - and PerspecSys is the only company helping them solve that problem with a mature solution." Elliot would also be joining the board of directors for PerspecSys.
Seconding the statement is Matt Fates of Ascent Venture Partners, who will also join the Board, said, "We have seen a real shift over the last 12 months in the acceptance and adoption by large enterprises of SaaS offerings. But these major companies have increased sensitivity to data protection. The fact that PerspecSys can enable SaaS adoption by protecting sensitive data makes them a compelling opportunity. Add in their proven technology, seasoned leadership team and satisfied customer base, and they become a very smart investment."
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